Features

U.S. Bank is the 5th largest commercial bank in the United States. It has $410 billion in assets and a network of 5,016 ATMs. It provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trusts, and payment services products to consumers, businesses and institutions.

U.S. Bank is based in Minneapolis, Minnesota, but it operates 3,172 banking offices in 25 states. U.S. Bank has a four-star rating with Bauer Financial and an A rating with BBB.

What Are U.S. Bank’s Checking and Savings Accounts Like?

Checking Accounts
U.S. Bank offers four main checking account types: Easy Checking, Silver Checking, Gold Checking, and Platinum Checking.

Easy Checking is U.S. Bank’s most popular account. It is a basic checking account with standard features, such as free use of U.S. Bank ATMs, online Bill Pay, Visa check card, and online and mobile banking. There is a $6.95 monthly fee ($8.95 with paper statements). You can avoid this fee if you have a $1,000 direct deposit or maintain an average balance of $1,500.

The Silver Account is the same as the Easy Checking but includes a savings account and offers preferred rates on loans and mortgages. It also has a $6.95 fee that can be waived with $1,000 direct deposit or a $1,500 average balance.

The Gold Account provides all the features of the silver account plus up to two Easy Checking accounts, a reduced fee on overdraft protection and two free transactions at non-U.S. Bank ATMs. The monthly fee is $10.95 ($12.95 with paper statements), but you can avoid it if you have a U.S. Bank loan, a line of credit, or credit card.

The Platinum Account is U.S. Bank’s prime account and the only one that pays interest. Users with a balance of less than $10,000 receive 0.02% APY. All others, get 0.01% APY. Platinum Account users also receive unlimited access to non-U.S. Bank ATMs for free, free personal checks, and 25 free trades with U.S. Bank’s self-directed brokerage. There is a $17.95 monthly fee ($19.95 with paper statements), which can be waived with a combined balance of $25,000.

Savings Account:
U.S. Bank includes a package Money Market savings account with the Silver, Gold, and Platinum accounts. This savings account has no monthly maintenance fee and a $25 minimum opening deposit. Rates vary from 0.05% (under $1,500 balance) to 0.10% (above $50,000 balance). Notice that this

Other savings accounts are the Standard Savings Account, the Goal Savings Account and the Money Market Account.

The Standard Savings Account has a $4 monthly maintenance fee, which you can avoid if you have a balance of $300. The minimum opening deposit is $25, and the rates vary from 0.04% to 0.05% APY.

The Goal Savings Account has no monthly fee and provides automatic transfers to checking account users. The minimum monthly transfer is $25, but there is no minimum deposit to open the account. The APY is just 0.01%, regardless of your balance.

The Money Market Account has a $10 monthly fee that can be waived with a minimum balance of $1,000. The minimum deposit to open an account is $100, and the APY rates range from 0.05% to 0.10%.

What Are The Advantages And Disadvantages of U.S. Bank’s Checking And Savings Accounts?

We love this about U.S. Bank:

  • U.S. Bank has a vast network of branches and ATMs.
  • Offers a wide selection of services and account features.
  • Variety of checking and savings account types
  • Easy ways to avoid monthly fees
  • Low minimum deposit amounts

We don’t like this about U.S. Bank:

  • Low interest paid, even for large balances
  • Only premium users receive free access to non-U.S. Bank ATMs
  • Monthly service fees for checking and savings accounts

 

  • Branch
  • Online
  • CDs
  • Checking
  • IRAs
  • Savings
  • Mobile App
  • Savings Interest Rate
    0.05%
  • Checking Interest Rate
    0.01%
  • Bauer Financial A+/A Rating
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Reviews

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0 votes

I've had this bank for what seems like forever. They are good and bad and run hot and cold. Unfortunately, this isn't the best way to go about business, as people may get tired of that. I know I have over the years, but I continue to be a customer. My branch down the street is good.


0 votes

I've been a US Bank customer for years. Although they've had a few problems here and there, overall it is an excellent bank with a lot of perks. I would recommend this bank to anyone who has banking--either old or young. Just try them out, you will like them!


0 votes

I've seen mention of fees, but I am not sure what all of the problem is all about. I don't get charged any fees, because I have automatic withdrawal from my paycheck. Any other fees would be things like overdraft charges, which you don't have to get if you keep money in your account! One time I made a mistake and this happened, but I called and they took off the charge.


0 votes

Always very friendly people in the branch I go to. Very helpful customer service reps on the phone as well. They offer a good variety of products that suit just about every one of my needs.


0 votes

US Bank is the only bank where I live so I have no other choice where I bank. Trust me, if I did I would bank ANYWHERE else. They have the worst customer service ever!


0 votes

Their rates are about as good as any other mainstream banking outfit, but the one good thing about them is how many branches they have all over the place. Every where you look there's another one!


0 votes

The people at this bank in the customer service department are so nice and helpful. They also give you assistance with a smile, which is really unheard of nowadays.I am happy I have an account and that it is there when I need it.


0 votes

I had a checking account with US Bank years ago that got closed because of a negative balance. I was shocked to find that I was eligible to open another one now. Awesome and very helpful bankers!


0 votes

I have banked with US Bank for years and have never had any problems, until recently. I was trying to help my daughter set up an account for a business she is trying to get going from her home and it ended up screwing up all my other accounts I already had. Very unhappy with the service they provided to try to help me.


0 votes

I remember years ago when US Bank would have been my first choice if I ever needed a checking or savings account. Now there are many others that I would put above US Bank. I don't think they realize how much competition there is for our business. They don't seem to care, but many other banks sure do.


0 votes

I wish I would have opened an account with US Bank years ago instead of sticking with my old bank. US Bank has better rates, better customer service and I'm much happier now.


0 votes

Pretty good service, although the other day I had some trouble with the customer service person. She became a little argumentative. Other than that I haven't had any incident since I opened the account a couple of years ago.


0 votes

US Bank has always been great. We opened an account to try to help a local family who had their house burn down three days before Christmas. The tellers were all not only very friendly, but I know a couple of them made donations as well. Very good people.


0 votes

I am very happy with Union Bank. I had a breach of my account awhile back and they dealt with it quickly and expediently. I didn't have to call over and over again to get it done. They got on all the things that needed to be done and did them without me even asking. I didn't end up liable for a penny.

0 votes

US Bank has been very pleasing to have an account with. Branches are becoming more accessible and always convenient when located in a store as well. They do not charge outrageous fees just to have an account. Makes me want to put more money in!

0 votes

I enjoyed banking with U.S. Bank. They provide a wide array of products as a large bank would, but provide a customer service that resembled and neighborhood bank. I never experienced surprise fees and always received excellent attention.


0 votes

Fairly good banking experience. They have a nice branch down the street from my house where I usually go. The people there are nice and the service is pretty quick. I haven't had such good care when I call the 800 number, though, so the jury is still out on that.


0 votes

This bank is on it if you have any fraud going on with your account. My account was hacked and they called me right away and shut off my card. The hackers got absolutely nothing, and I got peace of mind knowing that they are paying attention. Good job U.S. Bank!


0 votes

I'm not so enamored with the customer service provided by this place. I get so-so help at the branches, which seem to be very slow with service, and then online is just okay. I get very little if any help when I call in, so not sure where to go with this one. I'm thinking of switching to an online bank. If I'm not going to get really good service with U.S. Bank, then I might as well go ahead and save on the fees that you do when you ... bank online More Less


0 votes

As usual, this bank has some questionable fees. I can't tell you how many banks I've gone through trying to find a bank that doesn't charge you an arm and a leg just because. This bank looked pretty good at first, but then they just got bad like all the others. I am so tired of fees.


0 votes

I love how this bank doesn't charge you any fees on your checking account if you have direct deposit of a certain amount each month. I have direct deposit with my employer, so it works out great. I a firm believer that if you let a bank borrow your money and earn interest on it that they shouldn't be getting fees from you.


0 votes

I went into a local branch to open a checking account. They asked me if I wanted a savings account too and I said I wasn't interested. Then I get my first bank statement that shows the status of both of my accounts - my checking and savings! How can they open an account for you if you tell them you don't want one? I can't trust someone like that.


0 votes

I am really not pleased with this bank now. If you had asked me about them even a week ago, I would have told you that everything was great, but they randomly closed my account. With money in it!! I thought what the? I am still trying to get a straight answer from them regarding this, but it really messed me up royally!


0 votes

I live in an area of the country where these banks are prevalent, so I bank with them. I don't like to pay ATM fees, so I want to be near a bank when I need cash. They are pretty good. I don't think that their fees are any less or any more than any other bank.


0 votes

I'm a Vietnam vet and find that U.S. Bank is very vet and military friendly. That means a lot to me as someone who risked his life for our country. I like to get acknowledged and thanked for that, and I have experienced that with U.S. Bank. They are a company that cares.


0 votes

I don't think I will ever understand how they can possibly get away with charging overdraft fees on an account that is only negative because of THEIR monthly service charges. If they didn't charge me the stupid $4.00 a month just to HAVE an account with them, then my account would have never been negative to begin with!


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